Office Development Opportunity

Investment Overview

NAI Tahoe Sierra is pleased to announce the offering of 3170 Lake Tahoe Boulevard, a two-story, 9,086-square-foot Class B office property situated on approximately 1.72 acres in South Lake Tahoe. The 18-unit building occupies a prominent position along the US Highway 50/Lake Tahoe Boulevard corridor and offers a flexible multitenant configuration. Offered at $1,500,000—approximately $165 per square foot—the property is intentionally priced below comparable market sales because its existing below-market rents and limited in-place net operating income do not support a conventional income-based valuation. The owners currently occupy the entire second floor, which contains approximately 3,777 square feet of rentable space, hallways, two entrances, two restrooms and a kitchenette. The rentable area includes a reception area, conference room, utility room and 11 offices, providing an immediate opportunity for an owner-user seeking a substantial South Lake Tahoe presence. At closing, the owners may vacate the second floor or consider a leaseback of all or a portion of the space on mutually acceptable terms. Investors may also reposition the space, improve the tenant mix and pursue higher market rents. Competitive seller financing is available to qualified purchasers. The sizable parcel may provide further flexibility for parking, site improvements or longer-term redevelopment.

Investment Highlights

• Offered at $1,500,000, approximately $165 per square foot
• Below comparable-sale pricing due to below-market rents and limited in-place NOI
• Entire second floor offers approximately 3,777 rentable SF with reception, conference room, utility room and 11 offices
• Two second-floor entrances, two restrooms, kitchenette and connecting hallways
• Owner-user occupancy or investor lease-up and repositioning opportunity
• Owners may vacate or consider a leaseback of all or a portion of the second floor on mutually acceptable terms
• Competitive seller financing available to qualified purchasers